4 Reasons on Why We Need Market Based Solutions in the Age of Climate Crisis
USD 2.5 trillion annual SDG financing gap means building for planet can be both impactful and profitable. Extractive and exploitative systems should be replaced with a regenerative and restorative offerings.
The Climate Crisis is a by-product of capitalism. It is no surprise that a system that is super short-sighted, extractive, and exploitative pushed our planetary boundaries. Right now, we have already transgressed four boundaries. It is easy to blame corporations and consumers or hope for state to pass legislations but we need a fast and holistic approach to tackle the climate crisis — and markets can be a great leverage.
That is why we need markets to innovate for regenerative and restorative.
- Economics is based on unlimited growth on a limited resources
We have this notion that everything is made for humans. 90% of animals are raised by humans. It is rare to see wildlife thrive. Further, resources are limited. When companies adopt cradle-to-cradle production systems, a very common practice in nature, we can create ultimate sustainability.
- Global South seeks the welfare level of the Global North
It is simply unjust to demand slow growth from the emerging markets. Every individual needs to have an access to feed themselves, find shelter, and pursue a meaningful life. This will put more strain on planetary boundaries. Nature-based products delivered at a reasonable price will conquer the markets.
- Everything is very costly for the planet and looks cheap for the consumer
Vandana Shiva says we are living in the final stages of a very deceitful system that made everything costly for the planet look cheap for consumers. Look at the fast textile, look like cheap clothing but it can cost lives in Bangladesh. This is a super costly mode of production. Conscious consumerism can fix this deceit.
- Capitalism promises abundance but produces scarcity
It is an ancient wisdom that true wealth is not having great possessions but having few needs. Scarcity feeds capitalism, we need products and services that bring abundance. Not flash sale anxiety.
One thing is clear, there is no planet B, but we have tools to make life just, restorative and sustainable for all living and non-living things by simply building products and services with a planet-first approach, instead of a human-first approach.
Startups are the ultimate leverage for this shift. 🚀
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